ASIC has made a new legislative instrument that continues the relief provided under three financial advice-related instruments that are due to sunset on 1 October 2025.
The ASIC Corporations (Financial Services Guide, General Advice Warning and Advertising Related Relief) Instrument 2025/234 continues the relief currently provided by:
- ASIC Corporations (Advertising by Product Issuers) Instrument 2015/539;
- ASIC Corporations (General Advice Warning) Instrument 2015/540; and
- ASIC Corporations (Financial Services Guides) Instrument 2015/541.
Consultation and feedback
On 15 May 2025, ASIC announced its intention to remake three financial advice-related legislative instruments and requested feedback by 12 June 2025.
We received five formal submissions in response to the public consultation. These submissions are available on CS 18 Proposed remake of financial advice-related legislative instruments.
All submissions were supportive of the relief being extended and ASIC’s proposal to remake the instruments into one.
One submission provided feedback about the limitations of general advice while other submissions sought incorporation of the relief into the primary law and minor modifications of the law. This feedback has been shared with Treasury.
Background
Under the Legislation Act 2003, legislative instruments cease automatically, or ‘sunset’, after 10 years, unless they are remade before the sunset date. The purpose of sunsetting is to ensure that instruments are kept up to date and only remain in force while they are fit for purpose, necessary and relevant.
